Business Standard

LIC launches new child policy

Related News

of India has launched a new product called in the child plan space that aims to meet educational and other needs of children. In case of death of the policyholder, the new policy pays the total sum assured (SA) to the nominee, which is 10per cent of the SA payable every year till the end of policy term.

If the policyholder survives the policy term, the product will pay maturity benefit of SA along with loyalty bonus. The minimum and maximum age of policyholder can be 18 and 50 years, respectively. Maximum maturity age is 75 years. Minimum and maximum age of child is in the range 0-17 years.

The maximum policy term is 25 minus age of the child. The minimum sum assured is Rs 1 lakh while there is no upper limit.

Read more on:   
|

LIC launches new child policy

Life Insurance Corporation of India has launched a new product called Jeevan Ankur in the child plan space that aims to meet educational and other needs of children. In case of death of the policyholder, the new policy pays the total sum assured (SA) to the nominee, which is 10per cent of the SA payable every year till the end of policy term.

Life Insurance Corporation of India has launched a new product called Jeevan Ankur in the child plan space that aims to meet educational and other needs of children. In case of death of the policyholder, the new policy pays the total sum assured (SA) to the nominee, which is 10per cent of the SA payable every year till the end of policy term.

If the policyholder survives the policy term, the product will pay maturity benefit of SA along with loyalty bonus. The minimum and maximum age of policyholder can be 18 and 50 years, respectively. Maximum maturity age is 75 years. Minimum and maximum age of child is in the range 0-17 years.

The maximum policy term is 25 minus age of the child. The minimum sum assured is Rs 1 lakh while there is no upper limit.

image

Read More

Single-premium life insurance policies under regulator's lens

After highest net asset value (NAV) guaranteed products, the single premium, two-year premium and three-year premium policies are the latest life ...

Recommended for you

Advertisements

Quick Links

More news from Finance Rss icon

2014-15 a year of financial sector reforms

Capital infusion, infra financing, FDI in insurance etc among the many noteworthy changes

LIC sees 40% growth in new premiums in March

Plans to launch Ulip soon; looks at investing in 20-year, 40-year bonds

Reserve Bank on loans in areas hit by natural calamity

A National Crop Insurance Programme was implemented from 2013 and loanee farmers are compulsorily covered under this component scheme

Back to Top